The NZD/USD pair went back and forth during the day on Tuesday, hovering around the 0.65 handle. With that being the case, the market looks like it is
The NZD/USD pair went back and forth during the day on Tuesday, hovering around the 0.65 handle. With that being the case, the market looks like it is going to continue to just meander sideways and therefore keeping us on the sidelines. We do not believe that the market has any real intention of going anywhere in the short-term, so we are simply waiting to see if we get another impulsive candle to start trading again. However, we believe that the bearish pressure will show itself again sometime soon. We do have a negative bias, but are not willing to put any money to work yet.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
